Brooklyn FI LLC Buys Shares of 2,060 The PNC Financial Services Group, Inc. (NYSE:PNC)

Brooklyn FI LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,060 shares of the financial services provider's stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $299,864,000. Schroder Investment Management Group lifted its stake in shares of The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after purchasing an additional 860,554 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after buying an additional 726,115 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after buying an additional 710,311 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $178.83, for a total transaction of $222,106.86. Following the completion of the transaction, the chief executive officer now owns 568,541 shares in the company, valued at approximately $101,672,187.03. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director now owns 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 16,396 shares of company stock valued at $2,747,698 over the last three months. Company insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

PNC has been the topic of several recent research reports. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Barclays lowered their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial lowered their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $202.67.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $1.24 during trading hours on Friday, reaching $173.86. The company's stock had a trading volume of 4,156,404 shares, compared to its average volume of 2,061,832. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The company's 50 day simple moving average is $165.13 and its 200 day simple moving average is $184.90. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $68.77 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.68%. The PNC Financial Services Group's payout ratio is currently 45.20%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.